Property Tax Exemption

The Colorado Constitution establishes a property tax exemption for senior citizens, surviving spouses of senior citizens, and disabled veterans. For those who qualify, 50 percent of the first $200,000 in actual value of their primary residence is exempted. The State of Colorado pays the property taxes on the exempted value if state funding is available. Once approved, the exemption remains in effect for future years, and the applicant should not re-apply.